The bill establishes a tax credit program for owners of resilient buildings in Florida, defined as those with specific Leadership in Energy and Environmental Design (LEED) certifications. Owners can apply for a tax credit against their tax liability, which is limited to one claim per building and must be submitted to the Department of Business and Professional Regulation by March 1 of the year following the building's LEED certification. The tax credit amounts vary based on the level of LEED certification and can be claimed for up to five years, with provisions for carrying forward or transferring unused credits. Additionally, the bill creates the Florida Resilient Building Advisory Council to enhance resilient building practices and hurricane resiliency, consisting of members from various sectors and supported administratively by the Department of Business and Professional Regulation. The bill introduces several amendments to existing Florida statutes, including the requirement for the advisory council to receive administrative assistance in performing its duties. It also allows the Department of Revenue to share information related to section 220.197 with the Department of Business and Professional Regulation under a confidentiality agreement. A sunset provision is included, stating that the section will be repealed on October 2, 2028, unless reviewed and saved from repeal through reenactment by the Legislature. Furthermore, the bill modifies the legislative intent regarding the application of tax credits against corporate income and franchise taxes, adding those enumerated in s. 220.197 to the list of credits, and updates the definition of adjusted federal income to include credits taken under section 220.197. The act is set to take effect on July 1, 2025.

Statutes affected:
S 62 Filed: 213.053, 220.02, 220.13
S 62 c1: 213.053, 220.02, 220.13